Asset management giant BlackRock has entered the world of memecoins and non-fungible tokens (NFTs), holding at least $40,000 worth of these assets in a newly discovered wallet linked to its tokenization fund.
On March 15, a $100 million USDC deposit was made on Ethereum, coinciding with BlackRock’s filing to offer its BlackRock USD Institutional Digital Liquidity Fund in partnership with Securitize.
Since March 19, various memecoins and NFTs have been sent to BlackRock‘s address, including Bitcoin-based Ordinals Pepe (PEPE) coins, CryptoDickbutts S3 NFTs, Mog Coin (Mog), VoldemortTrumpRobotnik-10Neko (ETHEREUM), and Shina Inu (SHI).
BlackRock also received significant amounts of unshETHing_Token (USH) and Realio Network (RIO) tokens, with RIO experiencing a 47% pump since the transfer.
BlackRock’s CEO, Larry Fink, has notably shifted his stance on Bitcoin and the blockchain industry, previously referring to Bitcoin as an “index of money laundering.” However, the firm has since filed for and received approval for a spot Bitcoin exchange-traded fund (ETF) and is now exploring tokenization of financial assets on Ethereum.
The BlackRock USD Institutional Digital Liquidity Fund, tickered “BUIDL,” aims to tokenize financial assets, providing investors with opportunities to earn U.S. dollar yields through Securitize Markets, LLC.
BlackRock’s foray into memecoins and NFTs signals its increasing involvement in the crypto space, aligning with its broader strategy of embracing blockchain technology and digital assets. As the firm continues to explore tokenization and digital liquidity solutions, it remains poised to play a significant role in the evolving landscape of finance and investment.
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